60% of new moms who take unpaid or partially paid maternity leave report difficulties when trying to make ends meet. Becoming a new mom can feel overwhelming for many reasons, from the excitement and fear of being responsible for your own tiny human to wild hormones. Then there’s the thought of having to pay for everything involved with having a baby, such as a crib, bedroom furniture, medical expenses and diapers, to name just a few. Whether it’s your first child or you’re adding to your family, having a child can be expensive and often involves some careful budgeting to help keep you on track.
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Throwing a baby shower is one of the best ways to get the essentials you’ll need for your new little bundle. It’s perfectly normal and acceptable to write a wish list of things you would like for you and your baby, plus your loved ones will want to treat you and celebrate with you. Ask a friend or family member to help you throw the baby shower and delegate ‘jobs’ to different guests, such as bringing food, drinks and decorations to keep costs down. Once you’ve had your baby shower you can see what you have left to buy, which hopefully won’t be much, and budget accordingly.
Personal Loans
Moms are more likely than dads to quit their jobs to take care of the family, reducing household incomes. Sometimes you’ll be at the point where there’s nowhere else to cut back and you can’t go back to work yet as your baby needs you, but you can’t afford the pack of diapers that you desperately need after all the bills have been paid. Borrowing money will give you instant cash to be able to provide for your family and give you some much needed breathing space to de-stress and get back on track. If you choose to take out a longer-term personal loan, by the time you need to pay it back your little one will be older, and you’ll have more time and energy to work and earn the money needed to pay it back, enabling you to financially support your family and live comfortably.
Remember That Babies Grow Quickly
This may be somewhat of an obvious statement, but until you’ve experienced your baby growing up first hand it’s difficult to believe just how quickly they grow. This means that you don’t need more than a few baby grows and diapers in one size because they soon won’t fit. The fact that baby clothes are sized in three monthly gaps illustrates how quickly they grow, and many will grow faster than that. It can be tempting to buy expensive brands for first shoes and clothing, but if it’s not within your budget, stay away. Brands make no difference to your baby’s happiness. Always try to buy clothes that are a little too big as you can roll sleeves up and get more life out of them.
Balancing bills and a baby can be difficult, but it’s doable. Don’t be afraid to ask for help, most family members will jump at the chance to buy baby’s first crib, particularly older generations of your family who may not be able to babysit but want to contribute financially.
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